You may avoid double taxation on your income by claiming tax relief if India has signed the Double Taxation Avoidance Treaty (DTAA) with the country
Category: Income Tax
I-T return forms to be modified – The Hindu BusinessLine
The Finance Ministry on Sunday announced that the Income Tax return forms for Assessement Year 2020-21 (fiscal year 2019-20) will be revised. New forms will
Finance Act 2020: Subtle yet significant changes in income-tax rules – The Hindu BusinessLine
Professional income earners can’t opt in and out of new tax regime As the saying goes, there is many a slip between the cup and
Income Tax Department: Direct Tax department sets target of Rs 13.19 lakh crore for FY21 – The Economic Times
Direct tax collections for FY20 missed the revised estimate of Rs 11.7 lakh crore by Rs 1.42 lakh crore, and even fell 8% short of
CBIC orders customs refunds & drawbacks – The Economic Times
The ”Special Refund and Drawback Disposal Drive” will go on till April 30. Issuing the pending GST and Custom refunds will benefit around 1 lakh
Banks and manufacturing companies look at significant deferred tax asset hit on financials – The Economic Times
Mumbai: The uncertainty around future taxable profits because of the Covid-19 virus outbreak may lead to write downs or impairments of tax assets at some top banks,
income tax refund: Govt to give income tax refunds up to Rs 5 lakh immediately due to coronavirus impact – The Economic Times
The Income Tax Department, on its official Twitter handle, announced that it will issue all pending income tax refunds up to Rs 5 lakh immediately to individuals and business
Income tax filing | Coronavirus impact: Income Tax Department cautions against breach in e-filing accounts–Economic Times
NEW DELHI: The Income-Tax Department has asked taxpayers to guard against possible breach of their personal e-filing account and report such an instance to the police cyber security wing. “If
income tax rules for nri: New criteria for NRI status and how income will be taxed in India effective from FY2020-21 – The Economic Times
By Dr. Suresh Surana Among the global pandemic crisis and the expected economic turmoil, the Finance Bill 2020 has been passed by the Parliament with
Govt says financial year 2019-20 not extended; clarifies on income tax compliance | Business News,The Indian Express
The central government on Monday clarified that it has not extended the current financial year 2019-20 which is set to end today March 31. The
Nirmala Sitharaman: Tax filing dates extended, business rules eased, ATM, bank charges waived off in Covid relief measures. Here are key announcements by Nirmala Sitharaman – The Economic Times
Here are the key announcements: Tax measures *For Financial year 2018-19, last date for returns extended to June 30, 2020. Delayed payments made till June
GST Returns date extended: GST Return filing date extended, relief from late fee, penalties–Economic Times
The date for opting for composition scheme has also been extended to June 30, 2020. To provide relief to businesses grappling with the economic impact
Costly delay | Business Standard Editorials
Union Finance Minister Nirmala Sitharaman on Tuesday announced a series of measures that essentially provide or extend a grace period for several payments and regulations.
I-T department asks top corporates, HNIs to settle tax disputes – The Economic Times
MUMBAI: After nudging the central and state public sector units (PSUs) to avail of the Vivad se Vishwas dispute resolution scheme, the income-tax department is
Coronavirus impact on economy: Govt may miss tax, disinvestment mop-up targets this fiscal due to coronavirus – The Economic Times
NEW DELHI: The government is likely to fall short of its revenue collection estimates in the current fiscal and may face challenges meeting the same
Vivad se Vishwas FAQs issued: Litigant can get refund under scheme if more tax already paid – The Economic Times
The ‘Vivad se Vishwas’ Scheme aims at dispute resolution in respect of pending income tax litigation. If a tax payer availing the income tax dispute
Let Taxpayers Take Own Call on Merits–Economic Times
The government should tread with caution in its drive to garner revenues from the new tax amnesty scheme ‘Vivad Se Vishwas’, which offers some tax
Vivad Se Vishwas Scheme: I-T department draws up list of PSUs to settle tax disputes
MUMBAI: The Income Tax department has drawn up a list of central and state public sector units (PSUs) and tabulated the exact disputed tax demand
Licence to harass | Business Standard Editorials
The Union government is looking to raise a significant amount of revenue through its Vivaad Se Vishwas scheme, announced in the Budget. Union Finance Minister
Rid dividend tax of all uncertainty–Economic Times
Nothing is certain, it is said, except death and taxes. But the budget proposal to scrap the dividend distribution tax (DDT) levied on companies and
aniltikotekar4sme.com 